Eschler Asset Management LLP Acquires New Position in Hut 8 Corp. $HUT

Key Points

• Eschler Asset Management LLP opened a new position in Hut 8 during the fourth quarter, buying 8,990 shares worth about $413,000. Several other institutional investors also added to or initiated stakes, and hedge funds now own 31.75% of the stock.
• Insider selling has been active: Director Rick Rickertsen sold 17,491 shares for about $1.92 million, while insider Victor Semah sold 10,518 shares for about $808,000. Over the last three months, insiders have sold 64,505 shares worth roughly $6.48 million.
• Hut 8 shares were up 2.2% to $118.86, and analysts remain largely bullish with 17 Buy ratings versus one Sell. The company recently reported a wider-than-expected loss per share but posted revenue that beat estimates, and the average analyst price target is $107.72.

Eschler Asset Management LLP acquired a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,990 shares of the company's stock, valued at approximately $413,000.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Hut 8 in the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. lifted its holdings in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after buying an additional 1,719 shares during the period. Activest Wealth Management acquired a new position in Hut 8 in the fourth quarter valued at approximately $49,000. Danske Bank A S acquired a new position in Hut 8 in the fourth quarter valued at approximately $51,000. Finally, CWM LLC lifted its holdings in Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after buying an additional 301 shares during the period. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the sale, the director owned 17,491 shares of the company's stock, valued at $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victor Semah sold 10,518 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider owned 41,378 shares in the company, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 64,505 shares of company stock worth $6,479,788. Company insiders own 10.40% of the company's stock.

Hut 8 Trading Up 2.2%

HUT opened at $118.86 on Friday. The firm's fifty day moving average is $92.90 and its two-hundred day moving average is $65.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $13.38 billion, a PE ratio of -39.62 and a beta of 4.61. Hut 8 Corp. has a twelve month low of $15.26 and a twelve month high of $140.80.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Equities research analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current year.

Analyst Upgrades and Downgrades

HUT has been the topic of several analyst reports. Citizens Jmp increased their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the company a "market outperform" rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Hut 8 from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Cantor Fitzgerald increased their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Rosenblatt Securities restated a "buy" rating and issued a $124.00 price objective on shares of Hut 8 in a report on Thursday. Finally, Compass Point set a $130.00 target price on shares of Hut 8 in a report on Wednesday, May 13th. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $107.72.

Hut 8 Company Profile

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.

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